Incognito Ownership
Discovering information about the elusive owners of this dubious platform proves challenging. The website lacks legal details, corporate information, historical background, and leadership profiles.
Legal documents hint at the jurisdiction, with disputes seemingly resolved in Malta’s official courts. Despite this, the company is absent from the MFSA’s regulated entities database, indicating a lack of compliance with ESMA standards in the EEA.
The absence of inclusion in compensation schemes and the lack of premium security standards akin to FCA, CySEC, and BaFin licensees raise concerns about the platform’s legitimacy.
Exploiting Inexperienced Investors
To lay the groundwork for fraudulent activities, this scam utilizes boiler room agents on social networks, notably exploiting multiple Cylwex TikTok profiles. Targeting a predominantly youthful demographic, inexperienced in cryptocurrency markets, the fraud entices them with promises of airdrops and giveaways for quick wealth accumulation.
Claiming eligibility requires a certain investment, ultimately enriching the schemers. Despite the deception, there’s a chance to recover stolen assets; contact our legal experts for assistance.
Most Impacted Regions
Leveraging social media, the Cylwex investment scam has defrauded numerous investors rapidly since its October 2023 launch. The most affected regions include:
- Colombia
- Peru
- Argentina
- Mexico
- Ecuador
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